Wednesday, 30 August 2017

Reliance Capital to be excluded from 11 BSE S&P indices

Leading stock exchange BSE  said Reliance Capital will be shifted out of the BSE S&P indices from September 5 as the financial services provider is demerging its real estate lending business.

The company would be excluded from 11 S&P BSE indices, including S&P BSE AllCap, S&P BSE 200, S&P BSE 100, S&P BSE Sensex Next 50, S&P BSE Midcap and S&P BSE LargeMidcap indices.

"Reliance Capital is demerging its real estate lending business, which will be later merged with Reliance Home Finance Limited, an unlisted subsidiary of Reliance Capital," a BSE notice issued today said.

On account of this scheme of arrangement, effective at the open of September 5, changes will be made to the S&P BSE Indices, it said.

RHF had assets under management (AUM) of Rs 13,022 crore (USD 2 billion) as of June 30, 2017 and is expected to be listed on the exchanges in September.

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